PayPal Holdings, Inc., announced that the company is now providing access to small business loans through the U.S. Small Business Administration (SBA) Paycheck Protection Program. This follows approval from the SBA for PayPal to participate in the program as one of the first non-bank institutions. “Small businesses have been hit especially hard by the coronavirus…
Alphabet and Google CEO Sundar Pichai has donated ₹5Cr to non-profit Give India, thus matching Google’s earlier donation of ₹5Cr to the online NGO donation platform. Thanking Pichai, Give India in a tweet said, “Thank you @sundarpichai for matching @Googleorg’s Rs 5 crore grant to provide desperately needed cash assistance for vulnerable daily wage worker…
The state of Maharashtra has become the worst affected state in India due to the coronavirus pandemic. The state so far has confirmed 1,619 positive cases and about 140 people have lost their lives. The state’s capital Mumbai, which is also the financial capital of India has since last month came to halt. Organizations which…
Boston-based restaurant management platform Toast recently announced that it has laid off about half of its staff as the coronavirus pandemic forces restaurant closure globally. Citing restaurant sales decline as the reason, CEO of Toast Chris Comparato through a company blog said, “During the month of March, as a result of necessary social distancing and…
The ongoing coronavirus pandemic has brought the world order to a halt. Every routine that we used to follow has now been altered. In the face of restrictive movements and closure of many schools and colleges, students, who were supposed to be studying and preparing for their exams in coming months, are facing a void.…
Private banking company Kotak Mahindra Bank recently announced that the group’s leadership team has unanimously and voluntarily opted to take a 15% cut in compensation for the financial year 2020-21. The Managing Director of the bank, Uday Kotak has personally opted to forgo his salary, and will receive Re 1/- as compensation. The bank in…
The novel coronavirus outbreak has put brakes on the global economy. The once highly interconnected world has now imposed travel bans and countries have gone into a lockdown. Businesses are closed and employees are now asked to work from home. But the remote working concept is only limited to certain kinds of jobs. The manufacturing…
Coronavirus pandemic has put the entire planet under lockdown leading to shutdown of operations across industries. The shutdown has left hundreds and thousands of daily wage workers or temporary/contractual workers unemployed in these times. They are the ones who are struggling to make ends meet. In order to help them sustain under lockdown, Sony Pictures…
The coronavirus pandemic has hit the global economy worse than the 2008 financial crisis. Industry experts predict that the impact of the pandemic will last longer than a year. Some industry bodies are also estimating that the pandemic would cost upto 2.5mn jobs globally. Worst-hit among all sectors of the economy, is the small scale…
The coronavirus pandemic has now started to impact the world economy to another level. The novel virus outbreak, which was once considered to be China’s “internal problem”, has now become a global headache. The World Health Organization has now termed the outbreak as “pandemic”, forcing governments to act on war footing to combat the disease…
As the coronavirus pandemic continues to impact the lives of many people around the world in numerous ways, businesses that have seen their sales funnels and cash flows depleting are taking to strong measures to ensure that the survival and continuity of business. A good number of businesses directly or indirectly impacted are having to…
The airline industry globally is suffering the most due to the coronavirus pandemic. The novel coronavirus, which first originated in China, has now spread to almost every corner of the world forcing governments to take tough actions. Several countries have imposed national and international lockdown and put a ban on movement to prevent the transmission…
The fight against the coronavirus is turning out to be a long battle which needs to be fought with full force, planning, dedication and great support. The number of cases around the world are still on the rise creating great demand for health equipment, masks, PPEs, testing kits and others to deal with the crisis.…
It’s hard to predict how markets will react post the coronavirus crisis, so in order to absorb any unprecedented shock that could impact small businesses, major companies are holding the baton and announcing their support to small businesses thrive in such hard times. Visa Foundation has come up with a plan to support such organisations…
Germany’s flag carrier Lufthansa is reportedly looking for a new Chief Financial Officer in the midst of a crisis created by the global coronavirus pandemic. Lufthansa recently announced that its Chief Financial Officer Ulrik Svensson has resigned citing health reasons. The 58-year old executive had been a member of the company board since January 1,…